It’s difficult to ascertain the exact figure of crypto users due to the difficulty involved in getting everyone to provide their details for KYC. A chunk of people care about anonymity after all -not just the money.
However, data from Statista reveals blockchain.com wallet downloads hit over 70 million in March 2021. Putting in perspective other wallets like Coinbase, Trust, BRD, Crypto.com, Binance, etc, there’s been a very significant crypto user growth over the last few years. The global crypto user base increased by nearly 190% between 2018 and 2020 alone.
In January 2021, user figures surged to numbers only bettered by what we saw in Dec 2017. Most likely those figures have been surpassed over the last 4 months.
The whole point here is, all these figures are likely not yet above 100 million users globally! Compare this to a world population of approximately 7.9 billion (source- worldometers.info)
Going by this, not even up to 3% of the world population use crypto right now. Hence, you need to realize how early we are in this novel technology redefining Finance.
I understand how a lot of new entrants are hurting over the current market situation arising from Elon Musk’s tweets. But hey! Elon is among the top 3 richest men in the world with over 50m followers. No way he isn’t going to have an influence over the market, considering there’s also been a chunk of new entrants into the crypto space due to his massive support for Bitcoin.
Elon Musk made it clear Tesla didn’t sell their Bitcoin; true or not, none of that matters. Only that BTC gets over his influence which I believe should happen soon. Everyone gets bored of the same thing at some point right?
If only the Bitcoin Maximalists with 100k followers will stop pissing him off! After all he’s human – with an ego, has the money and the influence, as well as the freedom to tweet whatever he wills.
The space is wide enough for other projects to thrive.
Regardless, Bitcoin remains the anchor on which all other cryptocurrencies stand. A nail on Bitcoin is a nail on the others!
On being early: eventually you’ll realize that even a bad timing doesn’t matter much if you have a macro perspective.
If you’re worried, look back at all the people who cut their losses and left the space during the 2018 bear season biting their fingers. I’m sure you however know not to go all in with your rent or feeding money.
One big question -If volatility is the price you must pay to make life-changing gains in crypto, is it a price worth paying? That’s for you to decide.
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